A library of snippets
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Customer recognition plays a key role in understanding behavior, and delivering personalized services such as loyalty rewards, customized payment and delivery options, and targeted offers. And as more channels emerge, from messaging app purchases, to in-store queue-busting kiosks, cross-channel customer recognition becomes all the more important.
A key element of customer recognition is one-click payments.
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The cost of producing South Korean money jumped 4.4 percent in 2016 from a year earlier as the country printed more 50,000 won (US$42) bills, the central bank said Monday.
South Korea spent 150.3 billion won on printing bank notes and minting coins in 2016, compared to 144 billion won in 2015, according to the Bank of Korea.
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When it is so difficult for innocent customers to open bank accounts, why are so many opened by fraudsters?
From The bank said it would protect me, but I was still robbed of £51,000
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A notary is a qualified lawyer whose task it is to authenticate documents and transactions so that they can be effective in countries outside England & Wales
Until 1533 notaries were appointed on papal authority by the Archbishop of Canterbury. Following the break from Rome, appointments continued to be made by the Archbishop of Canterbury – but on the authority of the Crown. The Archbishop’s jurisdiction was, and is, exercised through one of the oldest of the English courts – the Court of Faculties, now physically located at the Precinct adjoining Westminster Abbey in London.
From The Notaries Society
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Unified Payment Interface, or UPI, provided by various banks could be considered safer than other modes in this respect. In case of UPI, one needs to enter only the Virtual Payment Address, or VPA, of the recipient, which is more secure and easy than sharing credentials such as account numbers and IFSC codes.
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According to provisional data released by the Reserve Bank of India on Monday night, the usage of debit and credit cards at point-of-sale (PoS) terminals has declined in January after peaking in December.
From Digital transactions decline in January as cash crunch eases – Livemint
I think, however, that there is some evidence that India’s transition to post-cash economy is real and that the electronic alternatives have traction. In true Clayton Christensen disruptive innovation tradition, I look to the less-regulated corners of the market and the margins of conventional products to uncover the next big thing. And here, I note, that not only are the red light districts responding to the new order by adopting mobile payments, but so are kidnappers.
The modus operandi of the criminals came to the fore with the abduction of 26-year-old resident of Indore, Harish Chouhan. After being released by abductors after recieving ransom through a PayTM account,
From Mathura kidnappers accept online payments – Vrindavan Today
Not Bitcoin, I note. So, I think that we can conclude that mobile payments do indeed provide a viable post-cash infrastructure but that early adopters of new payment technologies are responding positively to the challenges of the transition. All good news for us on the digital money side of the means of exchange fence.
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As operator, the Eurosystem is enhancing the TARGET2 functionalities as relevant to address ACHs’ needs by November 2017. These steps need to be complemented by concrete interoperability arrangements between ACHs. In this regard, the Eurosystem encourages the industry to establish operational links between ACHs by the November 2017 deadline.
From 2017 – a decisive year for innovative retail payment services
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This week, the Internet Banking Union (IBU) was approved by China’s central bank the People’s Bank of China (PBOC) thus creating a ‘Digital Union Pay’ that may bring cross-platform interoperability to digital payment platforms including Alipay and WeChat Pay.
From The Internet Banking Union may help you transfer money from Alipay to Wechat pay – Kapronasia
The IBU will be set up by the China Payment Clearing Association and, although it has not announced the exact shareholders, it is clear that there will not be more than 50 of them and they will all be from third party payment companies
Local currencies face three hurdles.
First, they are relatively illiquid, being accepted only at willing local businesses. They are, in effect, a form of self-imposed economic sanction, narrowing the range of choice for consumers and businesses.
From Sub-national currencies struggle to survive | The Economist
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Second, local-currency schemes suffer from a trust deficit: they are not backed by the central bank, so holders do not want to risk having too much.
From Sub-national currencies struggle to survive | The Economist
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Finally, having to deal with two parallel currencies imposes transaction costs—and those wanting to back local businesses can easily use the national currency.
From Sub-national currencies struggle to survive | The Economist
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About $20m was seized from under a mattress in a Massachusetts apartment after a Brazilian man was arrested for laundering money linked to a multi-billion dollar global fraud.
From Millions under a mattress: US agents find $20m in cash after fraud raid | US news | The Guardian
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She said she could see the EU setting up another currency like the ECU, or European Currency Unit, which the bloc used for internal accounting purposes before the euro was introduced in 1999.
From China Media Warn Trump of ‘Big Sticks’ If He Seeks Trade War – Bloomberg
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Snippings